ESCO Corporation has acquired Stabiltec Downhole Tools LLC, a unique manufacturer of specialty drilling tools for the oil and gas industry. This acquisition complements ESCO's growing Oil & Gas Division, bringing an additional 96 people into the organization.
With aggressive growth goals in 2014 and beyond, this acquisition continues the build-out of the ESCO Oil & Gas Division's product portfolio.
"Stabiltec brings a new portfolio of state-of-the-art downhole tools essential to our oil and gas customers," said Cal Collins, ESCO President and Chief Executive Officer. "Our customers will immediately benefit from the company's strong commitment to speed, customer focus and innovation."